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Japan futures end week higher after Biden signs US stimulus bill

  • Osaka Exchange's rubber contract for August delivery rose 1.3 yen, or 0.5%, to 276 yen per kg, ending the week 2.3% higher.
  • The rubber contract on the Shanghai futures exchange for May delivery rose 0.7% to finish at 15,265 yuan per tonne.
Published March 12, 2021

TOKYO: Japanese rubber futures rose for an eighth straight session on Friday after US President Joe Biden signed a $1.9 trillion economic stimulus package to support the recovery of the world's biggest economy from the COVID-19 pandemic.

Osaka Exchange's rubber contract for August delivery rose 1.3 yen, or 0.5%, to 276 yen per kg, ending the week 2.3% higher.

Biden plans to direct US states to make all adults eligible for the coronavirus vaccine by May 1 and urged Americans in a televised address to stay vigilant against the virus, hours after he signed a $1.9 trillion stimulus bill into law.

The rubber contract on the Shanghai futures exchange for May delivery rose 0.7% to finish at 15,265 yuan per tonne.

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